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    Home » Pony AI seeks up to $4.48B valuation in US IPO
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    Pony AI seeks up to $4.48B valuation in US IPO

    By Bing LanNovember 15, 2024No Comments2 Mins Read
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    • Chinese self-driving firm Pony AI seek up to a valuation of US$4.48 billion (RMB 20.11 billion) in its US IPO.
    • The U.S. IPO is a landmark event for the autonomous vehicle (AV) industry and for Chinese startups seeking to navigate U.S. financial markets.

    What happened

    Pony AI said Thursday that it is aiming for a valuation of up to US$4.48 billion (RMB 20.11 billion) in its US IPO as the Chinese self-driving company proceeds with its long-sought plan for a New York listing.

    In order to generate up to US$195 million, Pony, which was created in 2016 and is supported by the Japanese carmaker Toyota, would sell 15 million American Depositary Shares for between US$11 and US$13 apiece.

    Aim to expand their operations, self-driving companies are trying to raise money. The US stock market will see the launch of Guangzhou-based Pony, whose fleet consists of more than 250 robotaxis and 190 robotrucks, following rival WeRide’s October Nasdaq debut.

    Also read:LightOn launches Europe’s first genAI IPO
    Also read:Waymo launches the largest robotaxi service in Los Angeles

    Why it’s important

    Pony.ai’s pursuit of a $4.48 billion valuation in its U.S. IPO is a landmark event for the autonomous vehicle (AV) industry and for Chinese startups seeking to navigate U.S. financial markets amid geopolitical tensions. As one of China’s leading AV firms, Pony.ai’s move to list in the U.S. underscores its ambition to secure global credibility and funding while showcasing its technological advancements in autonomous driving.

    For the AV industry, this IPO reflects confidence in the future of self-driving technology despite the sector’s regulatory and technical hurdles. A high valuation would position Pony.ai among the frontrunners in the race to commercialize AVs, competing with giants like Waymo and Cruise. The funds raised would likely accelerate R&D, deployment, and strategic partnerships, especially in the U.S. and China.

    Amid ongoing U.S.-China tensions, Pony.ai’s IPO could serve as a litmus test for Chinese firms navigating the American financial system. Success might inspire other Chinese tech firms to pursue U.S. listings, bolstering cross-border financial ties despite political challenges.

    Autonomous vehicle IPO PonyAI
    Bing Lan

    Bingxin Lan is a journalist at Blue Tech Wave specialising in AI and Internet governance. She graduated from the University of California, irvine. Send tips to b.lan@btw.media.

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